Local News in Brief : Judge Rejects Request to Post Property as Bail
A Los Angeles Superior Court judge Friday denied the request of a former officer of a defunct Universal City investment firm that allegedly bilked about 500 investors out of $5 million to post property as bail.
David L. Wiksell of Van Nuys asked Judge Robert T. Altman to use real estate he said he owns near Newhall in lieu of cash to meet his $325,000 bail. Altman, however, found that some of the property may have been bought using money swindled from investors, said Dist. Atty. Timothy J. Browne, who argued against Wiksell’s request.
Wiksell, 47, remains in jail while awaiting trial Oct. 15. He was vice president of investments for Comstock Financial Services. The company allegedly promised investors returns of up to 30%, but instead diverted money into companies and accounts owned by its officers.
Roy L. Comstock, former chairman of Comstock Financial, pleaded no contest in July to one count of violating corporate securities laws. He was sentenced Aug. 5 to four years in prison.
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